The debate around ethical consumption is often characterised by discussion of its numerous failures arising from complexity in perceived trade-offs. In response, this paper advances a pragmatist understanding of the role and nature of trade-offs in ethical consumption. In doing so, it draws on the central roles of values and value in consumption and pragmatist philosophical thought, and proposes a critique of the ethical consumer as rational maximiser and the cognitive and utilitarian discourse of individual trade-offs to understand how sustainable consumption practices are established and maintained. An in-depth qualitative study is conducted employing phenomenological interviews and hermeneutic analysis to explore the consumption stories of a group of ethically minded consumers. The research uncovers the location of value within a fluid, yet habitual, plurality of patterns, preferences, morals, identities and relationships. Its contribution is to propose that consumer perception of value in moral judgements is represented by an overall form of aggregate personal advantage, which lacks conscious reflection and delivers a phenomenological form of value rooted in habits, reflecting a pragmatist representation of value unified as a 'consummatory experience'.